Social Innovation Fund
LISC Social Innovation Fund Award
In 2010, LISC was awarded a $4.2M per year Social Innovation Fund (SIF) grant from the Corporation for National and Community Service (CNCS). LISC was one of 11 inaugural intermediary grantees for the SIF, which is a unique federal grant program that leverages public and private funds—producing a 3:1 match on the initial federal investment—to replicate innovative, evidence-based approaches that promote health, educational outcomes, and economic opportunity for individuals and families. Each intermediary recipient matches the federal grants dollar for dollar, and uses those funds to make subgrants (which are also matched 1:1) to community-based organizations throughout the United States. To date, LISC has subgranted over $8M to 47 community organizations across 10 metropolitan areas as part of its Financial Opportunity Center SIF Initiative. The subgrants support an integrated service model that focuses on improving the financial situation for low-to-moderate income families by helping people boost earnings, reduce expenses, and make appropriate financial decisions that lead to asset building. The Financial Opportunity Centers provide individuals and families with services across three critical and interconnected areas:
To learn more about the Social Innovation Fund award that LISC received, read LISC's news release and list of subgrant winners. (Visit the Corporation for National and Community Service's Social Innovation Fund page for more information about the Fund and the other grantees.
Technical Assistance and Resources
Organizations who wish to learn more about the Financial Opportunity Center model in general may find useful the publications and web pages listed below.